Sonic Automotive (NYSE:SAH) Shares Down 1.8% – What’s Next?

Sonic Automotive, Inc. (NYSE:SAH) shares traded down 1.8% during trading on Friday . The company traded as low as $58.50 and last traded at $58.24. 23,743 shares were traded during trading, a decline of 87% from the average session volume of 177,496 shares. The stock had previously closed at $59.32.

Analysts Set New Price Targets

Several analysts recently commented on SAH shares. Needham & Company LLC upped their price target on shares of Sonic Automotive from $74.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. StockNews.com raised shares of Sonic Automotive from a “hold” rating to a “buy” rating in a research note on Wednesday, February 12th. Stephens raised their price target on Sonic Automotive from $83.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. lifted their price objective on Sonic Automotive from $74.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Finally, Seaport Res Ptn upgraded Sonic Automotive from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $79.20.

Sonic Automotive Trading Down 0.8 %

The firm has a 50-day moving average price of $69.36 and a 200-day moving average price of $63.96. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 9.51 and a beta of 1.70. The company has a current ratio of 1.09, a quick ratio of 0.35 and a debt-to-equity ratio of 1.75.

Sonic Automotive (NYSE:SAH) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.05. Sonic Automotive had a net margin of 1.52% and a return on equity of 19.96%. As a group, sell-side analysts predict that Sonic Automotive, Inc. will post 6.14 EPS for the current year.

Sonic Automotive Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.40 annualized dividend and a yield of 2.38%. Sonic Automotive’s dividend payout ratio (DPR) is 22.65%.

Hedge Funds Weigh In On Sonic Automotive

Hedge funds have recently modified their holdings of the stock. Smartleaf Asset Management LLC lifted its position in shares of Sonic Automotive by 515.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 480 shares of the company’s stock worth $30,000 after purchasing an additional 402 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in Sonic Automotive in the fourth quarter valued at approximately $51,000. Point72 Asia Singapore Pte. Ltd. raised its stake in shares of Sonic Automotive by 100.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,196 shares of the company’s stock valued at $70,000 after purchasing an additional 599 shares during the period. R Squared Ltd bought a new stake in Sonic Automotive in the 4th quarter valued at approximately $72,000. Finally, Aster Capital Management DIFC Ltd grew its holdings in shares of Sonic Automotive by 1,429.7% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,545 shares of the company’s stock valued at $98,000 after acquiring an additional 1,444 shares in the last quarter. 46.92% of the stock is owned by institutional investors and hedge funds.

Sonic Automotive Company Profile

Sonic Automotive, Inc operates as an automotive retailer in the United States. It operates in three segments, Franchised Dealerships, EchoPark, and Powersports. The Franchised Dealerships segment is involved in the sale of new and used cars and light trucks, and replacement parts; provision of vehicle maintenance, manufacturer warranty repair, and paint and collision repair services; and arrangement of extended warranties, service contracts, financing, insurance, and other aftermarket products for its guests.